PNB trade ideas
PNB Analysis Positional March 2021Refer to chart for more details. PNB forming the head and shoulder pattern, on the otherhand has kept the support line accelerated. Breakout with strong momentum on both side may lead to a market move, but direction is highly unpredictable. Please keep these support and resistane levels handy.
Trading is subject to market risk. Step as per your risk appetite under professional supervision.
PNB head and shoulder pattern . it will be close above head and shoulder trend line .
will be blast .
PNB PNB is looking on a bullish upward channel along with a w pattern easy target of 55 can be expected
PNB Triangle pattern breakoutTriangle pattern Breakout happened, Important levels are marked,
Looks more probability available for BULLISH Trending (Target 1= 42.5 , Target 2= 44.25)
Less possibility for Bearish Trend (If Target 1= 39.5, Target 2= 38, Target 3= 36)
PNB - LongPNB CMP - 42.05
Looking bullish in higher time frame. One can go for Short / Long Term Trade Setup with the following entry, exit & targets.
Buy Range 40 - 41 / Stop Loss 37
Target 1 - 50
Target 2 - 60
Target 3 - 65
Disclaimer: This is my view and for educational purpose only.
Inverted head and shoulders made by PNB downwards.PNB performing so poorly some time ago as we can see in the chart. but after recapitalization it will good perform in the future because it makes inverted head and shoulders in the weekly chart.
PNB BSE/NSE W, Long PT 58-60Not a Financial Advice. Charting for entertainment purpose only.
Watch for Key breakout from the trendline . Nice support above 50 EMA on weekly. Volume picking-up. If this holds above 45 range, next possible target is 58 and then possibly higher.
Punjab National BankThe stock analysis was carried out on Feb 9 in response to a question asked on a social media platform and thereafter it has rallied. Read the reasons behind the pick below.
PNB shares appear to be the better option amongst PSU Banks.
Reasons supporting the pick:
1. Second largest PSU Bank in terms of market capitalisation.
2. PNB’s merger with United Bank of India and Oriental Bank of Commerce has improved the PAT (profit after tax) for three straight quarters of FY21 i.e 538 cr. in Q1, 576 cr. in Q2 and 747 cr. in Q3. NII has been improved by over 80% on a YoY basis for Q3.
3. FII’s holding has increased from ~1% to ~4% which signals a strong bullish bias towards the bank. Huge volumes of shares are being traded for close to 7 trading sessions
4. Government of India’s emphasis on Privatisation of PSU’s will leave a lesser count of PSU Banks in India and PNB is expected to remain on the PSU Bankside.
5. Stock is trading/consolidating in a lifetime low trajectory of 26–39 for close to a year now. The all-time high of the stock is 279.8 which is far away from the current levels. Therefore keeping the range of 26–39 as a strong base, the stock has only one way to move i.e up.
6. Technically speaking, the stock is trading at 0.64 times its book value and appears to be undervalued given the above-mentioned reasons.
The stock has a strong resistance zone at 40.55–42.80 and a strong support zone at 32.50-34.50 levels and hence perfect time to invest would be when the price is close to the support level or breaks the resistance zone i.e above 42.80.
The first target for the stock would be 53+ and the second target would be 70+ in months to come.
Refer to the chart for levels.
Invest and forget, it might give some surprising returns.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
PNB Channel Breakout and next targetsPNB has finally broken a strong resistance of a channel in which it has been stuck since the Corona impacted equity markets.
With the breakout happening with high volumes and a s series of higher lows, we can see that it shall possibly sustain and reach up to the level of 59 in near future. Next target after 59 we can see is 68.
For those who are not already holding it may take an entry at retest of the channel resistance, which is now a support region.
PNB Above 39.7 Target 39.9 and Second Entry @ 40.75 Target 41.5PNB Above 39.7 Target 39.9 and Second Entry @ 40.75 Target 41.5 /43.05
PNB - Punjab National BankResearch pick:
Reasons supporting the pick:
1. Second largest PSU Bank in terms of market capitalisation.
2. PNB’s merger with United Bank of India and Oriental Bank of Commerce has improved the PAT (profit after tax) for three straight quarters of FY21 i.e ₹ 538 crores in Q1, ₹ 576 crores in Q2 and ₹ 747 crores in Q3. NII has been improved over 80% on a YoY basis for Q3.
3. FII’s holding has increased from ~1% to ~4% which signals a strong bullish bias towards the bank. Huge volumes of shares are being traded for close to 7 trading sessions
4. Government of India’s emphasis on Privatisation of PSU’s will leave a lesser count of PSU Banks in India and PNB is expected to remain on the PSU Bankside.
5. Stock is trading/consolidating in a lifetime low trajectory of 26–39 for close to a year now. The all-time high of the stock is 279.8 which is far away from the current levels. Therefore keeping the range of 26–39 as a strong base, the stock has only one way to move i.e up.
6. Technically speaking, the stock is trading at 0.64 times its book value and appears to be undervalued given the above-mentioned reasons.
Talking about targets (Daily time frame):
The stock has a strong resistance zone at 40 .55–42.80 and a strong support zone at 32.50-34.50 levels and hence perfect time to invest would be when the price is close to the support level or breaks the resistance zone i.e above 42.80.
The first target for the stock would be 53+ and the second target would be 70+ in months to come.
NOTE: These findings and levels are purely based upon the knowledge and understanding of the post publisher. The idea here is to predict the future price movements hence, please do not consider this as stock advice or recommendation.
Punjab National Bank - Pennant PatternPNB is making Pennant Pattern, both rising support and falling resistance are squeezing the price.
PNB - Ascending Triangle Pattern - Short term SwingThis analysis is purely based on price action and Chart Patterns.
The analysis is on 30min TF hence target can be achieved in intraday trade or in couple of days.
Trade logic with SL and Target is explained in image itself.
Don't chase the price. Always plan your trade & trade your plan
Keep trailing SL accordingly once entered into the trade.
This analysis is purely for education purpose. Kindly do your own study before entering into any trade .
Also check out my other ideas to understand how price action works and how it can be used to make regular profits without any complex strategies.
Feel Free to comment for any queries regarding the above stock or price action analysis in general.
PNB - CMP 37.0PNB - 37.0, PNB has gone through rounding bottom pattern. Depth of the cup is 7.35 points. The target is depth of the cup plus price of the cup top = 33.95+7.35 = 41.3. It exactly went up to 41.25 and reversed from there. Then comes how much retracement shall happen. If you take Fibonacci retracement levels the last retracement level is 61.8% of total rise. Here total rise is 14.6. So 61.8% of total rise is 9.02. Hence it shall fall to 32.2. However it made closing low of 31.5 and started raising upwards. Presently it is at 37 and trading in a upward closed triangle. Today it exactly closed at end of the upper line of edge and may break tomorrow. If it breaks the triangular range it can immediately go to 41.2 and above. MACD signal line crossed trend line and is making bullish divergence, RSI also above support line and is bullish. This is for educational purpose and any investment shall be done after prior consultation of financial expert.
PNB- Huge Breakout ExpectedPNB is looking very Bullish, Closing above 200 EMA, Retraced 50% from the bottom as per Fibonacci Levels with Huge volumes.
Good Positional Trade.
Target 1 - 38.35
Target 2 - 41.35.
If sustains above these levels hold for 45 and 50 levels.
